Mr. Veschi, who joined Nortel in 2008, is responsible for managing Nortel's global intellectual property (IP) assets, including its reverse engineering and patent prosecution activities. Prior to joining Nortel, Mr. Veschi was General Manager of LSI Corporation's IP Business, while also serving as LSI's Chief IP Counsel. In that role, he led a P&L business which negotiated patent agreements yielding hundreds of millions of dollars in licensing revenue. Mr. Veschi served in an equivalent executive position at Agere Systems, which was purchased by LSI in 2007. Prior to that, he worked as an IP attorney at Lucent Technologies and in private practice at Foley & Lardner.

"John is known internationally as an accomplished executive and patent attorney whose leadership and unique blend of technical, legal and business skills have generated substantial value for global companies," said Carl Schlachte, Chairman of the Board, MOSAID. "With nearly 20 years' experience in the IP sector, we look forward to John's contributions to MOSAID's strategic development as we continue to evolve and drive growth as an international enterprise focused on the monetization of intellectual property assets and technology innovation."

MOSAID also announced that Gene Davis, Chairman and CEO of Pirinate Consulting Group, has stepped down from the Company's Board of Directors. Mr. Davis was elected as a Director of the Company in September 2006. He served as a member of the Audit Committee, the Corporate Governance and Nominating Committee, and the Special Committee.

"As an executive who specializes in turn-around management and mergers and acquisitions consulting, Gene played an important role in MOSAID's emergence as an IP company focused on delivering shareholder value," said Schlachte. "The Board thanks Gene for his work in MOSAID's successful repositioning and ongoing expansion."

About MOSAID

MOSAID Technologies Inc. is one of the world's leading intellectual property companies. MOSAID licenses patented intellectual property in the areas of semiconductors and communications technologies and develops semiconductor memory technology. MOSAID counts many of the world's largest technology companies among its licensees. Founded in 1975, MOSAID is based in Ottawa, Ontario. For more information, visit www.mosaid.com.

Forward Looking Information

This document and certain other public documents incorporated by reference in this document, contain forward-looking statements to the extent they relate to MOSAID or its management, including those identified by the expressions "anticipate," "believe," "foresee," "estimate," "expect," "intend," "could," "may," "plan," "will," "would" and similar expressions. Similarly, statements in this document that describe MOSAID's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. These forward-looking statements are not historical facts, but rather reflect MOSAID's current expectations regarding future events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results, performance or achievements to differ materially from those in such forward-looking statements. Assumptions made in preparing forward-looking statements and financial guidance include, but are not limited to, the following: MOSAID's continued expansion of its patent portfolio and of its opportunities for future patent licensing revenue as a result of MOSAID's acquisition of patents from third parties and from development of new inventions; DRAM manufacturers continuing to infringe MOSAID's patents; the timing and amount of MOSAID's litigation expenses; MOSAID's ability to sign new patent licensees; current assumptions as to the identification of products that are unlicensed to MOSAID's wireless patents; and the timing and amount of MOSAID's Research & Development expenses.

Factors that could cause actual results to differ materially from expected results include, but are not limited to, the following: MOSAID's ability to negotiate settlements with licensees; legal rulings and/or regulatory investigations, audits or complaints having an adverse impact on the validity, enforceability, royalty rates, potential royalty rates, and strength or breadth of coverage of MOSAID's essential and/or nonessential patents (including, but not limited to, adverse results from litigation or proceedings in patent offices and government regulatory agencies in various countries around the world); judicial, legislative or regulatory changes that impair the ability of patent holders to earn licensing revenues; worldwide economic conditions and demand for technology products; economic, social, and political conditions both globally and in the countries in which MOSAID or patent licensees operate, including conflict, war and, other security risks, health conditions, possible disruptions in transportation networks and fluctuations in foreign currency exchange rates; non-payment or delays in payment by or insolvency of licensees or other debtors; variability in patent licensees' sales of licensed products; failure to maintain and enforce MOSAID's existing patent portfolio, or failure to obtain valuable patents as a result of R&D activities, or failure to acquire valuable patents from third parties; MOSAID's ability to recruit and retain skilled personnel; change in MOSAID's financial position; consolidation of MOSAID's licensees; natural events, such as severe weather and earthquakes in the locations in which MOSAID or patent licensees operate; and changes in the tax rate applicable to MOSAID as the result of changes in the tax law in the jurisdictions in which profits are determined to be earned and taxed, the outcome of tax audits and the ability to realize deferred tax assets.

Except as may be required by applicable law or stock exchange regulation, we undertake no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Additional information identifying risks and uncertainties affecting MOSAID's business and other factors that could cause MOSAID's financial results to fluctuate are contained in MOSAID's Annual Information Form, under the section entitled "Risk Factors," and in MOSAID's other public filings available online at www.sedar.com.